LAGOS, Nigeria – August 25, 2025 – United Bank for Africa (UBA) Plc has launched the fifth edition of its highly anticipated Supersavers Promo, reaffirming its commitment to fostering financial inclusion and empowering Nigerians to achieve their long-term financial goals through disciplined saving habits. The nine-month initiative, themed Season of Progress, was unveiled during a vibrant press conference at UBA House in Marina, Lagos, on Friday, August 22, 2025. Running from September 1, 2025, to May 31, 2026, the campaign aims to reward both new and existing customers while cultivating a savings culture that supports aspirations such as funding education, home ownership, business ventures, and other critical life goals. This report explores the details of the Season of Progress campaign, its significance in Nigeria’s economic landscape, the broader context of financial inclusion, and the potential impact on customers and communities across the country.
A Vision for Financial Empowerment
The launch of the Season of Progress Supersavers Promo marks a significant milestone in UBA’s ongoing efforts to promote financial inclusion and economic empowerment in Nigeria. At the press conference, UBA’s Group Deputy Managing Director, Chukwuma Nweke, emphasized the transformative power of savings in driving national development. “Savings are the bedrock of economic progress,” Nweke declared. “They empower families and individuals to take control of their future, whether by securing quality education for their children, acquiring homes, establishing sustainable businesses, or meeting urgent needs at various stages of life.”
Nweke positioned UBA as a partner in Nigeria’s journey toward economic stability, highlighting the bank’s role in integrating millions of Nigerians into the formal banking sector. “Through our wide range of savings products, we are bridging economic divides, breaking cycles of poverty, and building stronger communities,” he said. The Season of Progress campaign, he added, is designed to deepen this impact by incentivizing savings and rewarding customer loyalty across diverse demographics.
The initiative comes at a critical time for Nigeria, where economic challenges such as high inflation (21.88% in July 2025, according to the National Bureau of Statistics), rising fuel prices, and widespread poverty continue to strain households and businesses. With an estimated 38.9% of Nigerians living below the poverty line, as reported by the World Bank, initiatives like the Supersavers Promo are vital for encouraging financial discipline and providing tangible rewards to alleviate economic pressures.
Campaign Mechanics: Inclusive and Rewarding
The Season of Progress Supersavers Promo is structured to be inclusive, offering opportunities for customers of all ages and income levels to participate. The campaign encourages customers to open Bumper Accounts with a minimum deposit of ₦5,000, which qualifies them for monthly draws. The chances of winning increase with deposits in multiples of ₦5,000, incentivizing consistent savings. Other eligible products include Individual Savings Accounts, requiring a minimum deposit of ₦10,000 monthly for three consecutive months, as well as Kiddies, Teens, and NextGen Accounts tailored to younger savers.
A notable innovation in this year’s campaign is the inclusion of dormant account holders, who can reactivate their accounts by funding them with ₦10,000 to qualify for a special monthly draw awarding ₦35,000. This feature aims to re-engage inactive customers, further expanding the campaign’s reach. The reward package is comprehensive, with quarterly star prizes of ₦1 million each for 27 winners, additional quarterly prizes ranging from ₦500,000 to ₦10,000, monthly airtime rewards, targeted cluster draws, and special categories for NextGen, Kiddies, and Teens account holders.
Shamsideen Fashola, UBA’s Group Head of Retail and Digital Banking, traced the bank’s five-year journey in promoting savings through the Supersavers Promo. “Since its inception, the Supersavers campaign has rewarded thousands of customers and deepened financial inclusion across Nigeria,” Fashola said. He highlighted the success of the 2024 edition, which coincided with UBA’s 75th anniversary and saw the distribution of approximately ₦150 million in prizes to thousands of customers. “This year’s Season of Progress is our most ambitious yet, reflecting our commitment to rewarding loyalty and inviting new savers to join the UBA family,” he added.
Driving Financial Inclusion Through Innovation
A core objective of the Season of Progress campaign is to advance financial inclusion, a critical priority in Nigeria, where an estimated 36% of adults remain unbanked, according to the Central Bank of Nigeria (CBN). UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, emphasized that the promo’s purpose extends beyond prize giveaways. “We still have significant ground to cover in empowering Nigerian citizens to attain financial independence,” Ladipo said. “This promotion represents one of the ways we introduce Nigerians to safe, innovative, and secure banking solutions delivered to the highest standards.”
To enhance accessibility, UBA has introduced a digital onboarding platform that allows customers to open accounts instantly online without visiting a physical branch. This innovation is particularly significant in rural areas, where access to banking infrastructure is limited. By leveraging technology, UBA aims to bring more Nigerians into the formal financial system, enabling them to save, invest, and access credit. The bank’s extensive network, with over 1,000 branches across Nigeria and a presence in 20 African countries, supports this goal, ensuring that the campaign reaches diverse communities.
To ensure fairness and transparency, all draws will be conducted live under the supervision of regulatory bodies such as the CBN and the National Lottery Regulatory Commission. UBA also plans to roll out nationwide activations in markets, campuses, and rural communities across Nigeria’s 36 states and the Federal Capital Territory. These activations, which include financial literacy workshops and community engagement events, aim to educate Nigerians about the benefits of saving and encourage participation in the promo.
The Broader Context: Nigeria’s Economic Challenges
The Season of Progress campaign is unfolding against the backdrop of Nigeria’s complex economic landscape. The NBS’s July 2025 Diesel Price Watch report highlights a 29.72% year-on-year increase in diesel prices to ₦1,789.45 per litre, contributing to a headline inflation rate of 21.88%. Food inflation, a key driver of living costs, stood at 22.74%, driven by insecurity in food-producing regions, flooding, and high transportation costs. These economic pressures have eroded purchasing power, particularly for low-income households, making initiatives like the Supersavers Promo critical for encouraging financial resilience.
The removal of fuel subsidies in 2023, a flagship policy of the Tinubu administration, has significantly increased the cost of living, with petrol prices rising by 167% from ₦254 per litre in May 2023 to ₦671 by December 2023. The naira’s depreciation, which reached 41.4% in 2024, has further driven up the cost of imported goods, including fuel and food. These challenges have deepened Nigeria’s poverty crisis, with 87 million people living below the poverty line, according to the World Bank.
In this context, UBA’s Supersavers Promo serves as both an economic and social intervention. By incentivizing savings, the campaign encourages Nigerians to build financial buffers against economic shocks, such as rising fuel and food prices. The inclusion of Kiddies, Teens, and NextGen Accounts also promotes financial literacy among younger generations, fostering a culture of long-term planning that could help break cycles of poverty.
Stakeholder Reactions: A Mix of Optimism and Skepticism
The launch of the Season of Progress campaign has elicited a range of reactions from stakeholders, reflecting both optimism about its potential and skepticism about its broader impact. Financial analysts have praised UBA’s commitment to financial inclusion, noting that the campaign aligns with Nigeria’s National Financial Inclusion Strategy, which aims to reduce the unbanked population to 20% by 2030. “UBA’s Supersavers Promo is a commendable step toward encouraging savings and expanding access to banking services,” said Dr. Chinedu Okeke, an economist at Lagos Business School. “By rewarding customers across demographics, the bank is fostering financial discipline in a challenging economic environment.”
Small business owners, who form a significant portion of UBA’s customer base, expressed enthusiasm for the campaign. “The chance to win prizes while saving is a great incentive,” said Amina Suleiman, a shop owner in Kano. “It motivates me to set aside money for my business expansion, even with high fuel costs.” Similarly, parents like Chukwudi Okonkwo in Enugu welcomed the Kiddies and Teens Accounts, which encourage savings for children’s education. “This promo gives me hope that I can plan for my daughter’s future,” Okonkwo said.
However, some civil society groups have questioned the campaign’s ability to address Nigeria’s deeper structural issues. “While UBA’s initiative is positive, it doesn’t solve the root causes of poverty and financial exclusion,” said Fatima Usman, a spokesperson for the Consumer Rights Advocacy Network. “The government must complement such efforts with policies to reduce inflation and improve access to basic services like electricity and healthcare.”
The opposition Peoples Democratic Party (PDP) also weighed in, urging UBA to ensure that the campaign reaches underserved rural communities. “Financial inclusion cannot be achieved if rural Nigerians are left out,” said PDP spokesperson Alhaji Yahaya Ability. “UBA must prioritize accessibility in areas with limited banking infrastructure.”
In response, UBA’s Alero Ladipo reiterated the bank’s commitment to inclusivity. “Our nationwide activations and digital onboarding platform are designed to reach every corner of Nigeria, from urban centers to rural villages,” she said. “We are dedicated to ensuring that no one is left behind.”
UBA’s Legacy and Global Reach
United Bank for Africa, established in 1949, is one of Africa’s leading financial institutions, with a workforce of over 25,000 and a customer base exceeding 45 million globally. Operating in 20 African countries, as well as the United Kingdom, the United States, France, and the United Arab Emirates, UBA delivers a wide range of retail, commercial, and institutional banking services. The bank has been at the forefront of technological innovation, introducing products like mobile banking, digital wallets, and the Leo chatbot to enhance customer experience and accessibility.
The Supersavers Promo, now in its fifth year, builds on UBA’s legacy of promoting financial inclusion and customer-centric banking. Previous editions have distributed millions of naira in prizes, with the 2024 campaign alone awarding ₦150 million to thousands of customers. The Season of Progress campaign aims to surpass this, with a broader scope and more inclusive rewards structure.
UBA’s global presence also positions it to drive financial inclusion beyond Nigeria. In countries like Ghana, Kenya, and Côte d’Ivoire, the bank has implemented similar initiatives to encourage savings and integrate unbanked populations into the formal financial system. The Season of Progress campaign could serve as a model for these markets, reinforcing UBA’s role as a leader in African banking.
The Broader Implications: Financial Inclusion and Economic Stability
The Season of Progress campaign has significant implications for Nigeria’s economy and society. Financial inclusion, defined as access to affordable and useful financial products, is critical for reducing poverty and promoting economic growth. According to the CBN, Nigeria’s financial inclusion rate improved from 58% in 2016 to 64% in 2020, but significant gaps remain, particularly in rural areas and among women and youth. Initiatives like the Supersavers Promo can help close these gaps by incentivizing savings and providing access to banking services through digital platforms.
By encouraging savings, the campaign also contributes to economic stability. Savings mobilize capital for investment, enabling banks to provide loans to businesses and individuals. This, in turn, supports job creation, entrepreneurship, and infrastructure development. The inclusion of Kiddies and Teens Accounts fosters financial literacy among young Nigerians, equipping them with the skills to manage money and plan for the future.
However, the campaign’s success depends on its ability to reach underserved populations. Rural communities, where banking infrastructure is limited, face significant barriers to participation. UBA’s planned activations in rural areas and its digital onboarding platform are steps in the right direction, but sustained efforts are needed to ensure inclusivity. Partnerships with local governments, community organizations, and fintech companies could further enhance the campaign’s impact.
Challenges and Opportunities
While the Season of Progress campaign holds immense promise, it faces challenges in Nigeria’s complex economic environment. High inflation and rising fuel prices reduce disposable income, making it difficult for many Nigerians to save. The NBS’s July 2025 data highlights the severity of these pressures, with diesel prices at ₦1,789.45 per litre and food inflation at 22.74%. These factors could limit participation in the promo, particularly among low-income households.
Insecurity, particularly in northern states like Benue, Adamawa, and Plateau, also poses a challenge. The NBS reported that these states recorded the highest diesel prices, reflecting logistical disruptions caused by banditry and conflict. Such conditions could hinder UBA’s outreach efforts in these regions, underscoring the need for collaboration with security agencies and community leaders to ensure safe and effective activations.
Despite these challenges, the campaign presents significant opportunities. By leveraging digital platforms, UBA can reach a younger, tech-savvy demographic, including Nigeria’s growing youth population. The inclusion of dormant account holders also taps into a previously untapped segment, potentially reactivating millions of accounts and boosting savings rates. The campaign’s focus on financial literacy, particularly for children and teens, could have long-term benefits, fostering a generation of financially savvy Nigerians.
Policy Recommendations
To maximize the impact of the Season of Progress campaign and address Nigeria’s broader financial inclusion challenges, the following recommendations are proposed:
Expand Rural Outreach: UBA should partner with local governments and community organizations to establish mobile banking units in rural areas, ensuring that unbanked populations can participate in the promo.
Enhance Financial Literacy: The bank should integrate financial education into its nationwide activations, offering workshops on budgeting, saving, and investing to empower customers.
Leverage Fintech Partnerships: Collaborating with fintech companies could enhance the digital onboarding platform, making it more accessible to low-literacy and low-income customers.
Address Economic Barriers: UBA could offer micro-savings products tailored to low-income households, allowing them to participate in the promo despite economic constraints.
Engage Regulatory Bodies: Working closely with the CBN and other regulators to align the campaign with national financial inclusion goals could amplify its impact and secure policy support.
Conclusion
The launch of UBA’s Season of Progress Supersavers Promo Season 5 marks a bold step toward deepening financial inclusion and empowering Nigerians to achieve their financial aspirations. By rewarding savings and leveraging digital innovation, the campaign addresses critical economic challenges while fostering a culture of financial discipline. The comprehensive reward structure, inclusive eligibility criteria, and nationwide activations ensure that the promo reaches diverse demographics, from urban professionals to rural farmers and young savers.
In a country grappling with high inflation, rising fuel prices, and widespread poverty, initiatives like the Supersavers Promo offer a beacon of hope. By encouraging savings and expanding access to banking services, UBA is not only rewarding customer loyalty but also contributing to Nigeria’s economic stability and social progress. As the campaign unfolds over the next nine months, its success will depend on UBA’s ability to navigate economic challenges, engage underserved communities, and deliver on its promise of a “Season of Progress” for all Nigerians.
